Crypto has had a wild ride this year. From increased institutional and retail adoption to China cracking down on crypto transactions, no other investment asset class has drawn so much market attention.
Through it all, bitcoin kept hitting all-time highs, and it remains the most valuable and widely talked-about cryptocurrency. Yet, on a year-to-date (YTD) basis, some of the top-performing cryptocurrencies have been altcoins like Ethereum, up 500%, and Cardano, up 1,000%.
The best cryptocurrencies for 2022
Ethereum
Crypto investors are expecting that Ethereum is set to take over Bitcoin in the nearby future in the cryptocurrency market. Digital wallets will be full of Ethereum tokens as it is a smart contract blockchain providing a reliable decentralized ambiance. It has become the host to multiple marketplaces for trading and lending crypto assets.
Dogecoin
Dogecoin is one of the cryptocurrencies with the best potential in 2022 with an expectation of hitting US$0.9. Elon Musk is there as a crypto investor as well as a crypto influencer to control this price in the cryptocurrency market. This cryptocurrency in 2022 can show the potential to overtake Bitcoin in the future. The position in the cryptocurrency rank always is under the top ten in 2021.
Binance Coin
Binance Coin is one of the largest cryptocurrency exchanges and altcoin crypto exchanges in the world by volume. This is compatible with any smart device and lets crypto investors start trading safely with convenience. Binance Coin is set to have great potential in 2022 with a 2.0 billion average daily volume and more than 1,400,000 transactions per second. It offers a lot of different products in this exchange platform that is beneficial for crypto investors in the nearby future.
Polkadot
Polkadot is a popular cryptocurrency with the best potential in 2022 for its decentralized Web 3.0 blockchain interoperability platform. Crypto investors will gain the ability to interoperate with a wide range of blockchains in the Polkadot network with economic and transactional scalability. The novel data availability and validity scheme enable chains to interact with each other with independence. The cryptocurrency in 2022 will serve three important purposes such as governance over the network, staking, and bonding.
Aave
Aave (CRYPTO: AAVE) is a decentralized lending platform built on Ethereum. You can use the platform to lend, generate income through lending, and borrow — or you can just buy Aave and hold as an investment. If you’re borrowing or lending, you can choose from about 30 different cryptocurrencies. If you lend, you can benefit from an annual percentage yield of more than 3% according to today’s rates.
Algorand
Algorand (CRYPTO: ALGO) is a champion when it comes to transaction speed. The blockchain has already demonstrated that it can process more than 1,000 transactions per second — and complete those transactions in less than five seconds. Eventually, the platform will be able to process 3,000 per second.
Cosmos (ATOM)
Cosmos is another Ethereum competitor, but with unique functionality. It aims to achieve interoperability—the ability to connect various blockchains together. “Cosmos has a rapidly growing ecosystem of interconnected blockchains and aspires to be the internet of blockchains,” says Sotiriou.
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